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Bumper Announces Plans to Protect Asset Portfolios Against Market Dips
Tallinn, Estonia–(Newsfile Corp. – December 14, 2021) – Bumper has announced the upcoming launch of their innovative price protection protocol that seeks to allay fears of inherent volatility in the crypto market by allowing users to protect the price of their assets while letting them remain viable in on-chain DeFi economies. It allows users a chance to hedge against risk in their portfolio without having to liquidate the underlying asset or leave it on an order book, increasing the capital efficiency and market maturity in the DeFi space.
Bumper hopes its protocol will usher in an era of underwritten DeFi financial products that are fully on-chain and collateralized by the crypto community as a whole. Users paying a small premium will lock in a price floor for that asset which will be sent to the protocol, and the user is then furnished with a ‘bumpered’ asset. This asset, the first offered being bETH, is fully composable and can be put to work in the wider ERC-20 ecosystem. This means that users who choose to bump their assets can keep them decentralised, keep earning yield, and remain capital efficient while guarding against portfolio loss should the worst occur.
To build out the DAO functionality of the community and leverage the blockchain to produce a community-driven asset, Bumper has also partnered with milestoneBased, to use their tools to help $BUMP token holders have their say in the direction of the protocol.
$BUMP must be staked in order to take out protection for an asset, and must also be staked in order to gain yield from staked $USDC that is used to capitalise this protection. Bumper aims to bring both makers and takers of protection into its community and achieve its goal of keeping assets protected, on-chain, and yield-bearing.
Price protection is novel in the DeFi space, and Bumper has stolen a march on the competition by being one of the first price protection protocols to announce its intentions. After the public sale, trading will begin on the token, and the DeFi community can have its say on where it values Bumper’s approach to reducing volatility in the crypto space, and its ability to forge a community of underwriters that can hedge risk for institutions and individuals and breathe new confidence into the crypto market – in spite of the headwinds ahead.
Media Contact:
Jason Suttie
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107615
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Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity
EDINBURGH, Scotland, April 25, 2024 /PRNewswire/ — Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.
This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.
Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”
This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.
About Kore Digital Mining Ltd.
Kore Digital Mining Ltd is a U.K. based Bitcoin mining company focused on growing its hash rate and increasing infrastructure capacity with its global partners.
Kore’s mission is to provide technological resources on the Bitcoin network, enabling added blockchain security and increased decentralization.
Find out more at www.koredigitalmining.com
Contacts:
Derek Nisbet
[email protected]
+44 0131 385 9129
Logo: https://mma.prnewswire.com/media/2386884/4648396/Kore_Digital_Mining_Ltd_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/kore-digital-mining-ltd-announces-additional-14-phs-bitcoin-mining-capacity-302127474.html
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